Hudaco Industries Limited Stock Forecast
Evaluation of Hudaco Industries Limited stock downgraded after the last trading session.
(Updated on May 16, 2024)
The Hudaco Industries Limited stock price fell by -0.0600% on the last day (Thursday, 16th May 2024) from $16,660.00 to $16,650.00. During the last trading day the stock fluctuated 2.43% from a day low at $16,401.00 to a day high of $16,800.00. The price has been going up and down for this period, and there has been a 0.18% gain for the last 2 weeks. Volume has increased on the last day by 11 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 25 thousand shares were bought and sold for approximately $415.63 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Hudaco Industries Limited stock with a 90% probability to be traded between $15,939.75 and $17,792.39 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HDC.JO Signals & Forecast
The Hudaco Industries Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $16,669.86. On a fall, the stock will find some support from the long-term average at approximately $16,212.20. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -0.89%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, November 24, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, November 24, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Monday, March 18, 2024 with a target of $16,639.20. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Hudaco Industries Limited stock
Hudaco Industries Limited finds support from accumulated volume at $16,300.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $399.00 between high and low, or 2.43%. For the last week the stock has had daily average volatility of 1.60%.
Our recommended stop-loss: $16,129.57 (-3.13%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (HDC.JO) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Hudaco Industries Limited to open at $16,617.00, and during the day (based on 14 day Average True Range), to move between $16,282.56 and $17,017.44, which gives a possible trading interval of +/-$367.44 (+/-2.21%) up or down from last closing price. If Hudaco Industries Limited takes out the full calculated possible swing range there will be an estimated 4.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16,700.00 (0.30%) than the support at $16,300.00 (2.10%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Hudaco Industries Limited stock A Buy?
Hudaco Industries Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.066 Hold/Accumulate Downgraded
Predicted Opening Price for Hudaco Industries Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $16,617.00 ( 0.198%) | $16,650.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HDC.JO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17,016.00 | 2.20 % | |
| R2 | 16,863.58 | 1.28 % | ||
| R1 | 16,769.42 | 0.717 % | ||
| Current price: | 16,650.00 | |||
| Support | S1 | 16,464.58 | -1.11 % | |
| S2 | 16,370.42 | -1.68 % | ||
| S3 | 16,218.00 | -2.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17,495.00 | 5.08 % | |
| R2 | 16,800.00 | 0.90 % | ||
| R1 | 16,700.00 | 0.300 % | ||
| Current price | 16,650.00 | |||
| Support | S1 | 16,300.00 | -2.10% | |
| S2 | 15,749.00 | -5.41% | ||
| S3 | 15,700.00 | -5.71% |
HDC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Feb 28, 2024 | Mar 04, 2024 | $700.00 | 4.28% |
| 2 | Aug 08, 2023 | Aug 08, 2023 | Aug 08, 2023 | $325.00 | 2.03% |
| 3 | Mar 01, 2023 | Mar 01, 2023 | Mar 01, 2023 | $625.00 | 3.81% |
| 4 | Aug 10, 2022 | Aug 10, 2022 | Aug 10, 2022 | $300.00 | 2.04% |
| 5 | Mar 02, 2022 | Mar 02, 2022 | Mar 02, 2022 | $520.00 | 3.72% |
FAQ
Click here for our free guide on how to buy Hudaco Industries Limited Stock.
